Betfred negotiating to sell a quarter of its Tote stake

26 Feb 2018

Betfred, the renowned UK operator is about to sell 25% of its stake in the Tote pool betting operation. According to Sky News, the £30m deal will be concluded within the next weeks. On ongoing advanced negotiations are currently held between Betfred’s founder Fred Done and Eamon Wilmott, chairman of racing technology provider Total Performance Data and a former board member of the British Horseracing Authority (BHA), with whom Done shares a prolonged controversy.

Seven years ago, Betfred and Tote signed a bilateral agreement which authorized the pool betting operation to offer exclusively wagering services. The deal ended last summer leading to Britbet becoming an independent pool betting service. As Sky News reported, Done is positive that Tote can “significantly increase its market share”, after name-calling Britbet as a weak opponent.

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